Common use of Ongoing charges Clause in Contracts

Ongoing charges. once your financial plan is in place it is important to keep it under review so it can be adapted, where necessary, as your circumstances change. Our ongoing services are designed to do this. Any products we have arranged for you will only be kept under review as part of an ongoing service for which you have agreed to pay. Our ongoing services are optional, however where you agree to purchase an ongoing service, unless otherwise agreed, this will be provided as a follow up to the initial service. Our charges for ongoing services (if taken up) will commence immediately alongside our initial charge, and are typically payable on a monthly basis. Our charges are payable within 30-days of the end of the relevant period. Alternatively, you may request that we charge you on an hourly rate basis for our services. It is important to note that Vintage Wealth Management Limited will charge at prevailing hourly rates of each of the members of staff involved in the advice process for any work we undertake for you, unless it has been accounted for in a service agreement. The costs for all our services are based on these rates, and where applicable, estimates of how many hours we expect the work to take (please refer to the ‘Hourly Rates’ section of this client agreement for details). By charging on this basis, we are able to be truly transparent and demonstrate to clients how these costs are disseminated in order to provide the services we offer. Vintage Wealth Management Limited can also be remunerated by way of charging you based on a percentage (%) of funds to be invested/under management if you prefer. The % will be the equivalent of the monetary amount estimated to provide the chosen level of service (as evidenced in the examples below). Any advice or recommendation that we offer will only be given after we have assessed your needs and considered your financial objectives and attitude to any risks that may be involved. We will also take into account any restrictions that you wish to place on the type of products you would be willing to consider. In some circumstances we may provide you with a non-advised service where you will not receive advice or a recommendation from us. Please refer to our “Non-Advised Service” client agreement for more information on this service. The services that you select and the charges for those services will be confirmed in the ‘Fee Agreement & Service Engagement’ form. We agree to provide the services selected, and you agree to pay us for those services. We will also let you know where any fees are subject to VAT. We provide an independent advice service. This means that we will make a recommendation for you based on a sufficiently diverse analysis of the market, after we have assessed your needs. To ensure that you are always fully aware of our advice costs and how and when you are going to be asked to pay for this, we will always confirm this verbally and in writing to you. This will provide you with the exact amount to be paid, and the agreed payment method so our charges are fully disclosed to you. We will agree a charge for our initial advice service utilising a time/cost basis. We will estimate how many hours we expect the work to take and the fee will be agreed with you prior to conducting any billable work. Fees payable will be calculated factoring in the number of hours required for the work to be undertaken and the hourly rates attributed to the individuals conducting that work (unless the hourly rate charging option is selected). To ensure that our fees are fully transparent (including how and when you will be asked to pay our charges), we will agree a fee with you for any initial advice service to be provided, and both the scope of the advice and the cost will be confirmed in writing to you. This will ensure that we do not exceed a pre-agreed amount when undertaking work on an hourly rate basis. In the event that additional work is required outside of this agreement, we will look to agree further fees as appropriate for the advice required. As noted earlier, our initial consultation is provided at our expense. Thereafter, fees will be incurred as per any agreement for services to be provided which will commence upon receipt of the signed/completed ‘Fee Agreement & Service Engagement Form’. Please refer to the section, ‘Commencement’ below for the VAT treatment of our services. Listed below are examples of typical elements that may form part of our initial advice process when providing you with a holistic financial planning service: Initial Consultation An initial meeting to find out more about you Strategy & Recommendation Agreeing financial goals and objectives Risk profile assessment to establish your attitude and understanding of risks Review of current plans and investments Undertake research to identify appropriate plans and solutions Provide a personalised report detailing recommendations A face-to-face meeting to discuss the report and our recommendations Arrangement & Implementation Review paperwork to ensure everything has been completed in full Send the paperwork to product providers in a timely fashion Continually chase providers (as required) for updates Keep you informed of the progress of applications submitted Place policies in force when the application process has completed Ensure you receive the respective policy documentation for retention As stated above, there is no charge for our initial consultation. Thereafter, we would normally estimate how many hours we expect the work required to take and will agree a fee with you prior to conducting any billable work based on the hourly rates detailed in this document. The fee quoted and agreed with you will be based upon the time estimated to carry out all of the stages of our initial advice service, including both the strategy and recommendation in addition to the arrangement and implementation. If arranging a regular contribution contract, our initial arrangement and implementation fee will be based upon a fee aligned to our hourly rates. If for any reason you wish to terminate your engagement with Vintage Wealth Management Limited during any of the stages of the initial advice process, you must provide written confirmation of this decision. Upon receipt of the written instruction to terminate services, we will calculate the fees accumulated for the work conducted up until that time (based upon the time spent up until that point and the hourly rates of those involved), and request payment for this amount; please note, VAT may be chargeable in the event you terminate our engagement during the initial advice stages. - One-off advice service We appreciate that sometimes you may just be looking for help in a particular area on a one-off /ad hoc basis. For example, you may just want us to review your current pension plan(s) to provide a snapshot of your current retirement provision. You may just want a second opinion on advice provided by a third party, or you may just have a protection need that needs to be addressed. This service may be suitable if you are looking for a specific piece of one-off advice, limited to a particular area. Arranging standalone products would also be subject to advice charges, and we will tell you the amount before we carry out any business for you which will be based on the amount of work required to meet your needs. This will be shown on the product illustration and/or communicated in writing in the suitability report provided. - Referrals to a Discretionary Fund Manager As part of our advice, we may recommend that some or all of your funds are invested with a Discretionary Fund Manager (DFM). We will only do this if having assessed your needs and objectives we think it is a suitable solution for you, and we will help to manage the relationship between you and the DFM. Typically, this work includes:  Undertaking appropriate due diligence and recommending a DFM service that we believe best meets your needs and objectives  Explain in writing why we have recommended the services of a DFM  Attending initial meetings with you and the DFM  Ensure that your relationship with the DFM is established correctly Vintage Wealth Management Limited will not apply any additional charge for this service as any work involved will be covered by the agreed initial and ongoing charges for our standard financial planning services. You will be provided with full details of the services and charges of the chosen DFM before proceeding. Please see example scenarios and initial advice charges below based on the two aforementioned models: 1. A focused piece of advice

Ongoing charges. once Once your financial plan is in place it is important to keep it under review so it can be adapted, where necessary, as your circumstances change. Our ongoing services are designed to do this. Any products we have arranged for you will only be kept under review as part of an ongoing service for which you have agreed to pay. Our ongoing services are optional, however where you agree to purchase an ongoing service, unless otherwise agreed, this actual charges and fees (in pounds and ▇▇▇▇▇) will be provided as a follow up to the initial service. Our charges for ongoing services (if taken up) will commence immediately alongside our initial charge, and are typically payable on a monthly basis. Our charges are payable within 30-days of the end of the relevant period. Alternatively, agreed with you may request that before we charge you on an hourly rate basis for our services. It is important to note that Vintage Wealth Management Limited will charge at prevailing hourly rates of each of the members of staff involved in the advice process for do any work and we undertake for you, unless it has been accounted for in a service agreement. The costs for all our services are based on these rates, and where applicable, estimates of how many hours we expect the work to take (please refer to the ‘Hourly Rates’ section of this client agreement for details). By charging on this basis, we are able to be truly transparent and demonstrate to clients how these costs are disseminated in order to provide the services we offer. Vintage Wealth Management Limited can also be remunerated by way of charging you based on a percentage (%) of funds to be invested/under management if you prefer. The % will be the equivalent of the monetary amount estimated to provide the chosen level of service (as evidenced in the examples below). Any advice or recommendation that we offer will only be given after we have assessed explain your needs and considered your financial objectives and attitude to any risks that may be involved. We will also take into account any restrictions that you wish to place on the type of products you would be willing to consider. In some circumstances we may provide you with a non-advised service where you will not receive advice or a recommendation from us. Please refer to our “Non-Advised Service” client agreement for more information on this service. The services that you select and the charges for those services will be confirmed in the ‘Fee Agreement & Service Engagement’ form. We agree to provide the services selected, and you agree to pay us for those servicespayment options too. We will also let you know where any fees are subject to VAT. We provide Details of our typical initial fees are as follows: Initial Service Initial Fee Initial Discovery meeting Free, no-obligation Comprehensive financial review with Cash Flows Analyses and Wealth Management Report. With a view to you becoming an independent advice ongoing client (i.e. subscribing to an ongoing service) Amount of funds to invest Level of fee For example, if you were to invest £1,000,000 our fee would be £3,500. This means that Comprehensive Financial Planning Report (one off, no products nor ongoing service) £5,000 Initial charges can be paid in a number of ways: ❖ Cheque, card or electronic transfer (we cannot accept payments by cash). ❖ Payment via deductions from the financial product(s) you invest in. Most product providers offer this facility. However, this will reduce the amount you have left to invest and may, depending on your circumstances, have other consequences (we will make a recommendation for discuss this with you based beforehand). ❖ For investments held on a sufficiently diverse analysis of the market, after we have assessed your needs. To ensure that platform (an online investment administration service) you are always fully aware of our advice costs and how and when you are going to be asked to pay for this, we will always confirm this verbally and in writing to you. This will provide you with the exact amount to be paid, and the agreed payment method so our charges are fully disclosed to you. We will agree a charge for our initial advice service utilising a time/cost basis. We will estimate how many hours we expect the work to take and the fee will be agreed with you prior to conducting any billable work. Fees payable will be calculated factoring in the number of hours required for the work to be undertaken and the hourly rates attributed to the individuals conducting that work (unless the hourly rate charging option is selected). To ensure that our fees are fully transparent (including how and when you will be asked may choose to pay our charges), we will agree a fee with you for any initial advice service to be provided, and both the scope charges out of the advice and funds held in the cost will be confirmed platform cash account, although it is important to maintain sufficient funds in writing the account to cover our charges as they become payable. ❖ In some limited circumstances (for protection planning only) we may receive commission from a product provider in relation to an insurance product we have arranged for you. This will ensure that we do not exceed The amount of commission is a pre-agreed amount when undertaking work on an hourly rate basis. In the event that additional work is required outside of this agreement, we will look to agree further fees as appropriate for the advice required. As noted earlier, our initial consultation is provided at our expense. Thereafter, fees will be incurred as per any agreement for services to be provided which will commence upon receipt percentage of the signed/completed ‘Fee Agreement & Service Engagement Form’. Please refer to the section, ‘Commencement’ below for the VAT treatment of our services. Listed below are examples of typical elements that may form part of our initial advice process when providing you with a holistic financial planning service: Initial Consultation An initial meeting to find out more about you Strategy & Recommendation Agreeing financial goals and objectives Risk profile assessment to establish your attitude and understanding of risks Review of current plans and investments Undertake research to identify appropriate plans and solutions Provide a personalised report detailing recommendations A face-to-face meeting to discuss the report and our recommendations Arrangement & Implementation Review paperwork to ensure everything has been completed in full Send the paperwork to product providers in a timely fashion Continually chase providers (as required) for updates Keep you informed of the progress of applications submitted Place policies in force when the application process has completed Ensure you receive the respective policy documentation for retention As stated above, there is no charge for our initial consultation. Thereafter, we would normally estimate how many hours we expect the work required to take and will agree a fee with you prior to conducting any billable work based on the hourly rates detailed in this document. The fee quoted and agreed with you will be based upon the time estimated to carry out all of the stages of our initial advice service, including both the strategy and recommendation in addition to the arrangement and implementation. If arranging a regular contribution contract, our initial arrangement and implementation fee will be based upon a fee aligned to our hourly rates. If for any reason you wish to terminate your engagement with Vintage Wealth Management Limited during any of the stages of the initial advice process, you must provide written confirmation of this decision. Upon receipt of the written instruction to terminate services, we will calculate the fees accumulated for the work conducted up until that time (based upon the time spent up until that point and the hourly rates of those involved), and request payment for this amount; please note, VAT may be chargeable in the event you terminate our engagement during the initial advice stages. - One-off advice service We appreciate that sometimes you may just be looking for help in a particular area on a one-off /ad hoc basis. For example, you may just want us to review your current pension plan(s) to provide a snapshot of your current retirement provision. You may just want a second opinion on advice provided by a third party, or you may just have a protection need that needs to be addressed. This service may be suitable if you are looking for a specific piece of one-off advice, limited to a particular area. Arranging standalone products would also be subject to advice charges, total annual premium and we will tell you the amount before we carry out any business for you which will be based on the amount of work required to meet your needsyou. This will be shown on the product illustration and/or communicated in writing in the suitability report provided. - Referrals to a Discretionary Fund Manager As part of our adviceWhere relevant, we may recommend will provide details of the maximum amount that some or all of your funds are invested with a Discretionary Fund Manager (DFM). We will only do this if having assessed your needs and objectives we think it is a suitable solution for you, and we will help to manage the relationship between could reclaim from you and the DFMtimescale in which we could do so, within our suitability report. TypicallyOur ongoing services are optional. If you agree to the ongoing service, this work includes:  Undertaking appropriate due diligence and recommending a DFM unless otherwise agreed, the service that we believe best meets your needs and objectives  Explain in writing why we have recommended the services of a DFM  Attending initial meetings with you and the DFM  Ensure that your relationship with the DFM is established correctly Vintage Wealth Management Limited will not apply any additional charge for this service as any work involved will be covered by the agreed initial and ongoing charges for our standard financial planning services. You will be provided with full details as a follow up to the initial service. The ongoing fee is not just for the Annual Review. It also covers the continuous monitoring, and management, of your investment portfolio. Details of our typical ongoing fees are as follows: For example, if you invest £1,000,000, our fee would be £10,000 per annum Initial charges can be paid in a number of ways: A regular fee, paid by standing order By deduction from your investment(s) on a monthly, quarterly, six-monthly or annual basis, where the product / platform provider is able to offer this facility. For investments held on a platform (an online investment administration service) you may choose to pay our charges out of the services and funds held in the platform cash account, although it is important to maintain sufficient funds in the account to cover our charges of the chosen DFM before proceeding. Please see example scenarios and initial advice charges below based on the two aforementioned models: 1. A focused piece of adviceas they become payable.

Ongoing charges. once your financial plan is in place it is important to keep it under review so it can be adapted, where necessary, as your circumstances change. Our ongoing services are designed to do this. Any products we have arranged for you will only be kept under review as part of an ongoing service for which you have agreed to pay. Our ongoing services are optional, however where you agree to purchase an ongoing service, unless otherwise agreed, this will be provided as a follow up to the initial service. Our charges for ongoing services (if taken up) will commence immediately alongside our initial charge, and are typically payable on a monthly basis. Our charges are payable within 30-days of the end of the relevant period. Alternatively, you may request that we charge you on an hourly rate basis for our services. It is important to note that Vintage TR Wealth Management Limited will charge at prevailing hourly rates of each of the members of staff involved in the advice process for any work we undertake for you, unless it has been accounted for in a service agreement. The costs for all our services are based on these rates, and where applicable, estimates of how many hours we expect the work to take (please refer to the ‘Hourly Rates’ section of this client agreement for details). By charging on this basis, we are able to be truly transparent and demonstrate to clients how these costs are disseminated in order to provide the services we offer. Vintage TR Wealth Management Limited can also be remunerated by way of charging you based on a percentage (%) of funds to be invested/under management if you prefer. The % will be the equivalent of the monetary amount estimated to provide the chosen level of service (as evidenced in the examples below). Any advice or recommendation that we offer will only be given after we have assessed your needs and considered your financial objectives and attitude to any risks that may be involved. We will also take into account any restrictions that you wish to place on the type of products you would be willing to consider. In some circumstances we may provide you with a non-advised service where you will not receive advice or a recommendation from us. Please refer to our “Non-Advised Service” client agreement for more information on this service. The services that you select and the charges for those services will be confirmed in the ‘Fee Agreement & Service Engagement’ form. We agree to provide the services selected, and you agree to pay us for those services. We will also let you know where any fees are subject to VAT. We provide an independent advice service. This means that we will make a recommendation for you based on a sufficiently diverse analysis of the market, after we have assessed your needs. To ensure that you are always fully aware of our advice costs and how and when you are going to be asked to pay for this, we will always confirm this verbally and in writing to you. This will provide you with the exact amount to be paid, and the agreed payment method so our charges are fully disclosed to you. We will agree a charge for our initial advice service utilising a time/cost basis. We will estimate how many hours we expect the work to take and the fee will be agreed with you prior to conducting any billable work. Fees payable will be calculated factoring in the number of hours required for the work to be undertaken and the hourly rates attributed to the individuals conducting that work (unless the hourly rate charging option is selected). To ensure that our fees are fully transparent (including how and when you will be asked to pay our charges), we will agree a fee with you for any initial advice service to be provided, and both the scope of the advice and the cost will be confirmed in writing to you. This will ensure that we do not exceed a pre-agreed amount when undertaking work on an hourly rate basis. In the event that additional work is required outside of this agreement, we will look to agree further fees as appropriate for the advice required. As noted earlier, our initial consultation is provided at our expense. Thereafter, fees will be incurred as per any agreement for services to be provided which will commence upon receipt of the signed/completed ‘Fee Agreement & Service Engagement Form’. Please refer to the section, ‘Commencement’ below for the VAT treatment of our services. Listed below are examples of typical elements that may form part of our initial advice process when providing you with a holistic financial planning service: Initial Consultation An initial meeting to find out more about you Strategy & Recommendation Agreeing financial goals and objectives Risk profile assessment to establish your attitude and understanding of risks Review of current plans and investments Undertake research to identify appropriate plans and solutions Provide a personalised report detailing recommendations A face-to-face meeting to discuss the report and our recommendations Arrangement & Implementation Review paperwork to ensure everything has been completed in full Send the paperwork to product providers in a timely fashion Continually chase providers (as required) for updates Keep you informed of the progress of applications submitted Place policies in force when the application process has completed Ensure you receive the respective policy documentation for retention As stated above, there is no charge for our initial consultation. Thereafter, we would normally estimate how many hours we expect the work required to take and will agree a fee with you prior to conducting any billable work based on the hourly rates detailed in this document. The fee quoted and agreed with you will be based upon the time estimated to carry out all of the stages of our initial advice service, including both the strategy and recommendation in addition to the arrangement and implementation. If arranging a regular contribution contract, our initial arrangement and implementation fee will be based upon a fee aligned to our hourly rates. If for any reason you wish to terminate your engagement with Vintage TR Wealth Management Limited during any of the stages of the initial advice process, you must provide written confirmation of this decision. Upon receipt of the written instruction to terminate services, we will calculate the fees accumulated for the work conducted up until that time (based upon the time spent up until that point and the hourly rates of those involved), and request payment for this amount; please note, VAT may be chargeable in the event you terminate our engagement during the initial advice stages. - One-off advice service We appreciate that sometimes you may just be looking for help in a particular area on a one-off /ad hoc basis. For example, you may just want us to review your current pension plan(s) to provide a snapshot of your current retirement provision. You may just want a second opinion on advice provided by a third party, or you may just have a protection need that needs to be addressed. This service may be suitable if you are looking for a specific piece of one-off advice, limited to a particular area. Arranging standalone products would also be subject to advice charges, and we will tell you the amount before we carry out any business for you which will be based on the amount of work required to meet your needs. This will be shown on the product illustration and/or communicated in writing in the suitability report provided. - Referrals to a Discretionary Fund Manager As part of our advice, we may recommend that some or all of your funds are invested with a Discretionary Fund Manager (DFM). We will only do this if having assessed your needs and objectives we think it is a suitable solution for you, and we will help to manage the relationship between you and the DFM. Typically, this work includes:  Undertaking appropriate due diligence and recommending a DFM service that we believe best meets your needs and objectives  Explain in writing why we have recommended the services of a DFM  Attending initial meetings with you and the DFM  Ensure that your relationship with the DFM is established correctly Vintage TR Wealth Management Limited will not apply any additional charge for this service as any work involved will be covered by the agreed initial and ongoing charges for our standard financial planning services. You will be provided with full details of the services and charges of the chosen DFM before proceeding. Please see example scenarios and initial advice charges below based on the two aforementioned models: 1. A focused piece of advice